• Prayers & Duties >> Zakat & Charity

    Question ID: 47072Country: India

    Title: Payment of zaqat on cash

    Question: I have invested in a government saving scheme. Each month I get profit after deduction of tax. How much amount should I pay as zakah?

    Answer ID: 47072

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1137/879/D=10/1434) You will have to pay 2.5% zakah on the money which is deposited somewhere or invested in business after completing one year. And if the profits which are received are saved in form of cash then you will have to pay its zakah as well, but if they are spent then obviously there is no zakah on it.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India